Quote: (01-10-2014 06:24 PM)DVY Wrote:
Quote: (01-09-2014 10:08 PM)M-Chill Wrote:
In my time there I honestly cant even pinpoint where the 'rich' girls socialize, but they sure as hell did not want to be seen with foreigners (or other middle class Filipinos). The rich girls probably live outside Manila in Alabang,
I am happy to be enlightened by anyone who has gamed top tier Filipina though.
As for the 40 families claim, thats a stretch.
I wish it were, but it's not a stretch. It's the reality here. Read this for the study and to give you a good overview of just how concentrated the wealth is here:
http://business.inquirer.net/110413/phil...new-wealth
It's actually higher than 70%, it's 76%. That's more than double of any other Asian country.
The more time I spend here the more bearish I'm becoming on the place. It has huge structural problems that are just so big they seem nearly impossible to overcome. Here's some highlights:
- highest power rates in Asia and power supply is dominated by a few families. It's mostly all imported coal too.
- 40 families control the country and the richest 2 families are Chinese!
- the infrastructure is 50 years out date and I don't see improvement happen quickly (I see private condos being built by the elite). There seems to be little direct investment back into what makes a country successful.
- local politicians have far too much control and vote buying is normal here.
- Economy is too dependent on foreign companies and economies and not diversified.
- To raise living standards wages would have to rise, but if wages rise the appeal of PI as an outsourcing hub dwindles. Catch 22.
- As some others have mentioned, and I hate to say this, the population does not have the work ethic of top tier places. That's a stereotype, and maybe it's a symptom of living in a 'hopeless' place for so long. Maybe that will improve.
Anyway, I like this place, but it has huge structural hurdles to clear before it joins more development nations.